Six things to know:
1. Full-year revenue jumped 15 percent to $55.4 million in 2018, while fourth quarter revenue was up 13 percent to $15.6 million. The full year success was driven by higher U.S. revenue, which increased 16 percent to $50.1 million.
2. Fourth quarter net loss hit $5.3 million, up from $4.9 million over the same period in 2017. Full-year net loss dropped from $23 million in 2017 to $17.5 million in 2018. SI-Bone also reported $12 million in operating loss for the full year.
3. As of Dec. 31, 2018, SI-Bone reported $122.2 million in cash, cash equivalents and short-term investments.
4. In 2019, SI-Bone expects revenue to hit $65 million to $66.5 million, which would be a 17 percent to 20 percent increase over 2018.
5. During 2018, several Blues plans released new payer polices to exclusively cover SI-Bone’s iFuse, a minimally invasive sacroiliac joint fusion implant system.
6. SI-Bone recently earned FDA clearance for the iFuse Bedrock technique for adult deformity patients with SI joint dysfunction.
“We are entering 2019 in a strong competitive position and are continuing to strengthen our position as the market leader in sacro-pelvic solutions,” said President, CEO and Chairman Jeffrey Dunn. “We remain confident that our focus on clinical data, education and innovation will continue to position the company for long-term success.”
More articles on orthopedic devices:
38 orthopedic devices receive FDA 510(k) clearance in February
RTI Surgical reports $71.2M in Q4 revenue & more: 10 device company notes
MIsonix names COO: 3 things to know
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
